There is no doubt that Chat-GPT has changed everything.
It was a little less than a year ago when OpenAI released its demo version of ChatGPT. Since that time, everything in the world of artificial intelligence changed. The first version was nothing compared to the last update. This is getting the imagination of people going.
Not only that, something more important it taking place. We are seeing the technology implemented into the platforms we use. Not only does OpenAI have their version, which is going into Microsoft products like Bing, but all software developers and platform providers are looking at making the same move.
Google, Salesforce, and Adobe are just a few examples. Then we have Amazon buying Claude for a whopping $4 billion.
A year ago, this was on the radar of very few people outside the hardcore technology community.
What does this mean for blockchain and how will it impact ecosystems like Hive going foward?
Web 3.0
In a recent article I broke down what Web 3.0 was and how it differs from Web3. Some might believe is semantics yet I feel it provides a framework against which to analyze what is happening.
Quickly, web3 is blockchain and cryptocurrency. It is the idea of decentralized infrastructure along with business structures. At the same time, Web 3.0 is the potentiality of AI & robotics, spatial web, blockchain/crypto, genetics, bio-tech, and energy.
In other words, web3 is a part of Web 3.0.
Of course, we have to point out that both blockchain and artificial intelligence are expected components to Web 3.0. This is something that we have to consider.
Each aspect could face the ChatGPT moment. This is when the world wakes up to the value being presented. To achieve this, a number of things are required.
The first is the technology has to be to the point to make a difference. OpenAI was started in 2015, a full 7 years before this product was open to the public. That is a long time to develop.
Blockchain is in the open from the day it starts. However, even though we are more than a decade in, we still haven't had the major, game-changing hit.
There is precedent though. Fusion, something many believe will be part of Web 3.0, has been at it for more than half a century. Sometimes, things truly do take time.
Blockchain Integration
As compared to ChatGPT, there is a notable difference.
We are see this technology built into many of our commonly used platforms. Blockchain works from the opposite directions. Platforms are built upon these networks.
It is for this reason why the aha moment could be evolutionary. There will likely come a point where much is operating on blockchain. It will be like "yeah no kidding". This is akin to saying something is run on the cloud today.
The key to take away from ChatGPT is the speed at which it is disrupting things. We are still in the early stages of the technological progress. Evidently, OpenAI has a version (ChatGPT5 I believe) that will blow people away. In fact, they are holding it back because of what it can do.
Blockchain will likely follow a similar path. We are seeing a lot of infrastructure being built today. That takes a lot of time. Each day, there is more being built on these networks, although not enough to garner the mass population.
That is probably a temporary matter.
100 Million Users
The ChatGPT moment for blockchain will be the day that an application hits 100 million users in record time.
This is something we see happening repeatedly. We had Instagram. Then TikTok. And now ChatGPT. It is the present record holder.
This application was the fastest to reach 100 million users, achieving this in under 2 months of release.
What we can take away is there will be something that tops this in the future.
Will this be built on blockchain? At some point, this is going to be the case. We are going to see tens of millions flocking to an application each week. It will be something that gets discussed on most talk shows.
Of course, there might be one difference: most might not even be aware that it is running on a blockchain. This might be "hidden" from the general public.
After all, how many were aware of the emergence of cloud a little more than a decade ago. Naturally, those making the decisions of where to house the data were well aware of it. That said, users and customers had little clue (nor did they care).
Opportunity For Hive?
Could this be an opportunity for Hive?
To be honest, it is an opportunity for anyone. In other articles, we discussed the reasons why I think Hive is different and how it stands out. This is a technology game which means having strong tech is vital. When we look at things from the ground up, i.e base layer, we see how much further along we are.
This is something that can be leveraged at the second layer. The question is will it. So far, the industry has not achieved this end. For all the discussion about Ethereum, what is there which is truly revolutionary in terms of what people use?
It is a reality that, so far, blockchain has not made a ton of impact. When people ask where web3 is, it is for good reason. The answer is we are still in the process of building it.
People utilize applications and games. The average person does not care about infrastructure. Of course, if it goes down, then they become aware of it. This is the catch-22 that developers find themselves in.
The key is to make the backend as little a part of the story as possible (form the users perspective). Success is achieved when nobody notices.
Application are much different. Naturally, they want to be smooth and as bug free as possible. However, unlike infrastructure, they need to be sexy. Here is where the users are garnered.
ChatGPT might be some interesting tech. This is as far as the conversion goes with most users. Instead, the fact that a few prompts can be added and back comes a lot more information is what the users are interested in.
It is the same with blockchain. What we are building that people want to use? It is a tough line to walk since we know the infrastructure is still rather limited. That said, it is time for people to start thinking about this.
Over the past few weeks, we focused upon the idea of building a business on Hive. This is what is needed. Having the infrastructure means nothing unless people are developing what others want to use.
It is going to be the difference maker.
Right now, across the board with blockchain, that is still being searched.
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